Buy the Correction with These Energy Stocks: Goldman

CNBC.com

Friday, 19 Sep 2008 | 5:41 AM ETCNBC.com

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Energy stocks are oversold and now is the time to jump in, Goldman Sachs analysts wrote in a research note on Friday.

A rebound in the fourth quarter will be due to better-than-expected demand for oil in China after the Olympics, improved demand in the U.S. because of the decrease in prices and a need to restores low inventories, the analysts said.

Most of Goldman's top 10 list of favorite energy stocks are from outside the United States, especially from emerging economies. They are: Cairn India, China National Offshore Oil Corporation (CNOOC), Russian Gazprom, Brazilian Petrobras , Spain's Repsol , and Canadian Suncor Energy .